|
|
The answer is almost certainly yes, for several reasons:
1. There are already fully decentralized BTC Layer 2 solutions available for use. Before fully decentralized solutions, the largest encapsulated Bitcoin assets were issued by the centralized institution Bitgo, known as WBTC, with a current size of around $6.5 billion. With the emergence of fully decentralized solutions like BEVM, it is predicted that this market can grow by 5-10 times, reaching a volume of $32.5 billion to $65 billion, far exceeding the current total TVL of $20 billion for ETH Layer 2 (this data includes cross-chain ETH and other assets on ETH Layer 2, with actual cross-chain ETH far from reaching $20 billion).
2. Bitcoin is naturally Turing incomplete. Therefore, Bitcoin needs Layer 2 more to develop its ecosystem compared to Ethereum. In the future, there will be a large amount of BTC migrating to Layer 2 to build various decentralized BTC applications. This is determined by market demand.
3. Bitcoin Layer 2 can be more resistant to censorship and is easier to gain trust and favor from users, especially large-scale funds.
4. Bitcoin's market cap is three times that of Ethereum. Currently, the total TVL of ETH Layer 2 is around $20 billion, accounting for approximately 10% of Ethereum's market cap. Following the same ratio, if 10% of BTC enters Bitcoin Layer 2 in the future, the entire TVL will reach $85 billion, three times the volume of Ethereum Layer 2. |
|
Post time 23-12-2023 05:42:55